There are many reasons cause PS3 keep turning off and remain blinking yellow light. Your PS3 hardware need some kind of fixes. Send back to Sony is expensive. You better repair by yourself. I suggest you bought this guide, you can learn how to trouble shooting and disassembly your console and fix it at last. Good luck!

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Hi,
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1)Turn off your playstation 3. If you think your ps3 has been
caught by the heat, then wait at least 20 minutes and put it back on
again2) Check if there's any loose cable. 3)
Try to put out your playstation's hard-drive, and put it back in. You
might want to repeat this 2-3 times for better results.

PS3 owners refer to this as the 'Yellow Light of Death' or 'YLOD'. It's quite common. The problem is caused by poor solder joints (due to overheating) on the motherboard and degrading heat sink compound on the fan.

When someone say that his/her Xbox is having Blinking red light
problem, It means it needs to be repaired. If you are using Cooler than
it is not a cure but a prevention. You could have used cooler before
acutally having the problem just to prevent your Xbox. But now you will
have to either get it repaired from Microsoft (in case your Xbox's
warranty is not expired, but one thing to note is that you will have to
wait for at least 3-4 weeks to get back your Xbox) or you can Fix your
Xbox's blinking red lights problem yourself with the help of DIY Video guide available on Internet. You can fix yourself without any technical knowledge..

i think dat there's a big problem in ur ps3 so i think u'd better go n let someone who knows well in da ps3 like SONY support centerin ur country take care of it or u may call or send e-mail to sony support using (www.playstation.com)